Sheffield Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,410 $5 $7,050 12 Purchases 2,320 6 13,920 15 Sale (2,540) 12 16 Purchases 4,700 7 32,900 23 Purchases 1,380 8 11,040 27 Sale (5,790) 15 (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) average cost. (Round average cost per unit and final answers to 2 decimal places, e.g. 1.25 or 5,275.25.) FIFO Average Cost Cost of goods sold $ Ending inventory $ +A +A